NEW YORK, Oct 19, 2021 / PRNewswire / – Research Dive released a report entitled “Essential Oils Market Outlook By Type (Citrus, Tea tree, Eucalyptus, citronella, clove, lavender and others), application (food and beverages, fragrances, cosmetics and aromatherapy, household and pharmaceuticals) and regional analysis (North America, Europe, Asia Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021-2028 “
The global essential oils market is expected to have sales of $ 20,497.61 million by 2028, increasing from $ 10,349.81 million in 2020 and grow with a CAGR of 9.20% over the forecast period.
Download Sample Essential Oils PDF Report
COVID-19 Impact Analysis on Essential Oils Market
The coronavirus pandemic has drastically impacted the global economy. Many companies went bankrupt and others were temporarily closed. The essential oils market has seen flourishing growth during the critical period. This is due to the beneficial properties of essential oils. In addition to being used as a substitute for herbs and spices in food cooking, essential oils are also widely used in the aromatherapy industry. Many leading players in the industry are focused on helping the market grow in the post-pandemic era.
Access our comprehensive analysis of the COVID-19 IMPACT ON GLOBAL ESSENTIAL OILS
Regional insights into the essential oils market
Europe The essential oils market is forecast to have the highest sales of $ 8,854.97 million during the analysis period. The increasing popularity of natural cosmetics and fragrances in the regional countries is the main factor that promotes the growth of the regional market in the forecast period.
Segments of the Essential Oils Market
The report has segmented the market into different segments based on the type and application.
Type: The citrus subsegment is expected to generate maximum sales of. achieve $ 4,907.12 million in the forecast period. The extensive use of citrus essential oils in household care products is expected to contribute to the growth of the subsegment due to their antibacterial properties.
Application: The food and beverage sub-segment of the essential oils market had sales of $ 3,745.10 million in 2020 and is expected to continue generating sales of $ 7,460.75 million by the end of 2028. The main driver behind this growth is the benefits of using essential oils in foods to prevent viral infection from synthetic preservatives.
Get an additional 20% discount on report customization: Get the PROMO CODE
Essential Oils Market Dynamics
Drivers: The rising popularity of essential oils in the food and beverage industries as well as aromatherapy is expected to spur the growth of the essential oils market over the forecast period. Essential oils have many benefits. A few drops of essential oils improve the taste and aroma of food. Essential oils, with their healing elements, also help treat stress, depression, and anxiety. These are the factors behind the growth of the essential oils market over the forecast period.
Restraint: The cost of essential oils is higher compared to the regular oils. This is expected to be one of the main factors to hamper market growth during the forecast period.
Opportunity: The increasing demand and popularity of aromatherapy around the world for its healing elements is expected to bring many opportunities for the marketplace in the near future.
Key market players and strategies
- Cargill, Inc.
- DuPont
- Royal DSM NV
- dôTERRA International LLC
- Givaudan SA
- Young Living essential oils
- The Lebermuth Company, Inc.
- Symrise
- Sensient Technologies Corporation
- Essential oils from New Zealand
These actors work on developing strategies such as product development, merger and acquisition, partnerships and collaborations to maintain market growth.
The latest development
In November 2020, Symrise AG, has a purchase agreement with Sensient Technologies Corporation, a United States of America –Based global manufacturer of fragrances and colors to purchase its aroma and fragrance chemicals, which comprise a wide variety of aroma molecules and fragrances. Symrise AG is a global leader in the manufacture of flavors and fragrances.
The report also summarizes many important aspects including the key players’ financial performance, SWOT analysis, product portfolio and the latest strategic developments
More about essential oils
Global Essential Oils Market Outlook is expected to have sales of $ 20,497.61 million, growing with a CAGR of 9.20% from 2021 to 2028
4 Notable Health Benefits Of Essential Oils
Global essential oils market is witnessing a driving growth with increasing consumer demand
Related trending topics:
- bladder Tea market: Global Opportunity Analysis and Industry Forecast, 2021-2028 – Request to download a sample report
- Edible Oil Market: Global Opportunity Analysis and Industry Forecast, 2021-2028 – Request to download a sample report
- hemp Tea market: Global Opportunity Analysis and Industry Forecast, 2021-2028 – Request to download a sample report
About research dive:
Research Dive is a market research company based in Pune, India. While maintaining the integrity and authenticity of the services, the company offers the services solely on the basis of its exclusive data model enforced by the 360-degree research methodology that guarantees a comprehensive and accurate analysis. With unparalleled access to multiple paid data resources, a team of seasoned researchers, and a strict work ethic, the company offers insights that are extremely accurate and reliable. Research Dive reviews relevant press releases, government publications, decades of commercial data, as well as technical and whitepaper, and provides its clients with the services they need within the required timeframe. His expertise is focused on studying niche markets, key driving factors and identifying impending obstacles. In addition, it also has a seamless collaboration with the big industry expert, which gives its research another advantage.
Contact us:
Mr. Abhishek Paliwal
Research dive
30 Wall Street, 8th floor, New York NY 10005
(T) + 91- (788) -802-9103 (India)
Toll Free: 1-888-961-4454
E-mail: [email protected]
Website: https://www.researchdive.com
Blog: https://www.researchdive.com/blog/
LinkedIn: https://www.linkedin.com/company/research-dive/
Twitter: https://twitter.com/ResearchDive
Facebook: https://www.facebook.com/Research-Dive-1385542314927521
SOURCE research dive
